Why ‘Beat the Peak’ Is so Important
As many Florida Currents’ loyal readers know, we recently initiated a new program aimed at saving our members money.
Our Beat The Peak Savings Program launched in May. It offers incentives in the form of $25 bill credits, along with $3 monthly for allowing us to install a load control module on your resistive heat electric water heater.
In essence, we’re paying you to help lower your bills.
Let me explain further.
During extreme weather conditions like the cold days of December 2022 and January 2024, or the scorching summer days we experienced last year, PowerSouth is forced to activate all its electricity generation assets simultaneously—a costly endeavor. It doesn’t charge Escambia River Electric Cooperative that expenses all in 1 month; instead, it spreads that cost over the next 11 months.
You may have noticed the Power Purchase Adjustment Cost charge on your bill each month. This charge pays for the part of EREC’s power bill from PowerSouth that our normal rate does not cover. Our normal rate sets aside about 70% of all revenue to pay our PowerSouth bill, but after a high peak, that often isn’t enough.
By reducing these peaks, we save on immediate costs and benefit the following 11 months. This saving directly lowers costs for EREC and our members. As a not-for-profit electric utility, reductions in our expenses translate directly into savings for you.
So, the next time we notify you of an anticipated peak and request temporary use reductions, know that our load control modules are actively contributing to lowering these peaks. Together, these efforts add up to significant savings for EREC and, by extension, for our valued members.